Project Preserves Affordable Housing in City’s Oldest Neighborhood

Boston (Jan.8, 2026) – WinnCompanies, an award-winning national owner, developer, and manager of high-impact apartment communities, today announced the completion of a $19.8 million project that modernized 84 apartments in Clay Arsenal, the oldest neighborhood in Hartford, CT.

The project at Claystone Commons delivered long-term, deed-restricted affordability to 10 three-story residential buildings that had been a source of naturally occurring affordable housing for the city since they were built in the 1920s. The company began the project shortly after acquiring the historic properties in June 2024.

The renovation effort, overseen by WinnDevelopment Project Director Derek Hansen, upgraded brick exteriors; installed new roofs, balconies, windows, HVAC systems, kitchen cabinets, dishwashers, bathroom fixtures and security features; added on-site laundry facilities and a management office; and created nine fully handicap-accessible units.

“We’re proud to be able to make long-term capital upgrades that will benefit residents and protect the affordability of this important housing resource for decades to come,” said WinnDevelopment Executive Vice President Adam Stein. “We thank the City, the various state agencies and the dedicated private funders who worked with us to get the job done.”

Apartments at Claystone Commons, which range from studios to four bedrooms, are affordable to households whose incomes are at or below 60 percent of Area Median Income (AMI). Twenty-five (25) apartments are also subsidized by project-based vouchers through a Housing Assistance Payment contract with the City of Hartford through the U.S. Department of Housing & Urban Development (HUD).

“The preservation and modernization of Claystone Commons is a major win for the Clay Arsenal neighborhood and for the entire City of Hartford,” said Hartford Mayor Arunan Arulampalam. “Affordable housing is the foundation of a stable and thriving community, and this investment ensures that our families will continue to have access to high-quality, safe, and historically significant homes for decades to come. We are proud to partner with WinnCompanies and our state and private funders to make a real difference in the lives of our residents.”

The project generated significant direct economic support for Minority and Woman-Owned Businesses (M/WBEs). Of the $11.6 million in contracts awarded to businesses in the city of Hartford, almost $3 million (25%) were awarded to M/WBEs. Small Business Enterprises accounted for $7.7 in construction contract awards.

Numerous public and private organizations helped finance the acquisition and rehab of the community.

The Connecticut Department of Housing (DOH) provided a soft subsidy from the department’s Flex program, while the Capital Region Development Authority (CRDA) provided a loan. “Preserving our current housing stock, ensuring it is safe and up to par, is as important to increasing access to affordable housing as is building from the ground up,” said Connecticut Commissioner of Housing Seila Mosquera-Bruno. “Oftentimes it is also more cost effective. Clay Arsenal is an amazing neighborhood, with a ton of history. We’re proud to invest in this rehab and even prouder that this community continues to thrive.”

Added Michael Freimuth, the CRDA’s former executive director: “CRDA was happy to provide some of the critical matching funds that leveraged other sources necessary to accomplish the renovation of these long- term affordable units."

The Connecticut Housing Finance Authority (CHFA) issued tax-exempt bond financing and provided the construction and permanent mortgage, as well as a soft loan from their Opportunity Fund program. “We’re proud to have supported the transformation of Claystone Commons, a development that preserves both the historic character and long-term affordability of these homes,” said Nandini Natarajan, CEO and executive director of the CHFA. “Safe, stable, and high-quality housing like this strengthens the health and well-being of residents while contributing to Hartford's vitality.”

WinnDevelopment worked with the City of Hartford and the Public Archaeology Laboratory, a Rhode Island-based historic consultant, to create the Bedford-Garden Streets Historic District and secure its placement on the National Register of Historic Places maintained by the U.S. National Park Service. That designation qualified the project for federal and state historic tax credits, which were allocated by the U.S. National Park Service and Connecticut State Historic Preservation Office (SHPO).

“The state and federal Historic Rehabilitation Tax Credit Programs are an important financial incentive for many affordable housing projects in the state. We are happy that these programs can be part of the solution to Connecticut’s housing shortage while preserving important historic resources for future generations,” said Elizabeth Shapiro, director of Arts, Preservation & Museums for the State of Connecticut.

Work on Claystone Commons was carried out as a phased occupied rehabilitation supervised by WinnResidential, the property management arm of WinnCompanies, in partnership with HousingToHome, a Boston-based, professional relocation expert.

WinnCompanies has developed and managed multifamily communities in Connecticut for more than 40 years. The company now owns 10 apartment communities in the state. WinnResidential manages those properties and operates 21 other multifamily sites in Connecticut on behalf of private or non-profit owners.

WNC & Associates provided equity as syndicator of the Low-Income Housing Tax Credits and Federal Historic Tax Credits (HTC). Eversource purchased the state HTC with BlueHub Capital serving as its financing partner. The Connecticut Natural Gas Corporation provided energy incentive funding in its capacity as administrator of the Connecticut Energy Efficiency Fund. Robinson & Cole served as transaction counsel.

Keith Construction of Canton, MA, served as general contractor, with The Architectural Team of Chelsea, MA, as architect. Petersen Engineering of Portsmouth, NH, provided engineering services.

ABOUT WINNCOMPANIES

WinnCompanies is an award-winning owner, developer and manager of high-impact, quality apartment homes, supported by 4,300 team members in 27 states, the District of Columbia and Puerto Rico. The company is known as a leading manager of multifamily apartment communities, operating the nation’s largest portfolio of affordable housing with a groundbreaking resident services platform. Its community development work focuses on creating and revitalizing mixed-income properties through environmentally sustainable new construction and pioneering adaptive reuse techniques. The company has also been a top manager of privatized housing for members of the U.S. Armed Forces and their families since 2001. Founded in Boston in 1971, WinnCompanies is a family-owned, private company. Learn more at WinnCompanies.

MEDIA CONTACT

Ed Cafasso
edcafasso@gmail.com
Call or Text: (617)455-9651

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